R Squared Ltd Sells 4,312 Shares of Applied Digital Corporation $APLD

R Squared Ltd cut its holdings in Applied Digital Corporation (NASDAQ:APLD) by 25.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,448 shares of the company’s stock after selling 4,312 shares during the period. R Squared Ltd’s holdings in Applied Digital were worth $125,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc. bought a new stake in Applied Digital in the second quarter worth $114,000. Vanguard Personalized Indexing Management LLC bought a new stake in Applied Digital during the second quarter valued at about $102,000. Sovereign Financial Group Inc. bought a new stake in Applied Digital during the second quarter valued at about $194,000. SLT Holdings LLC bought a new stake in Applied Digital during the second quarter valued at about $176,000. Finally, Blair William & Co. IL boosted its holdings in Applied Digital by 42.6% during the second quarter. Blair William & Co. IL now owns 138,163 shares of the company’s stock valued at $1,391,000 after acquiring an additional 41,253 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Performance

NASDAQ:APLD opened at $33.43 on Monday. Applied Digital Corporation has a 12-month low of $3.31 and a 12-month high of $40.20. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.35 billion, a PE ratio of -29.58 and a beta of 6.77. The firm has a 50-day moving average price of $22.91 and a 200 day moving average price of $13.90.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative net margin of 111.29% and a negative return on equity of 37.14%. The firm had revenue of $38.01 million during the quarter, compared to analyst estimates of $52.25 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. Research analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APLD has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research report on Friday. HC Wainwright upped their price objective on shares of Applied Digital from $20.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, B. Riley reaffirmed a “buy” rating on shares of Applied Digital in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.70.

Insiders Place Their Bets

In other Applied Digital news, CFO Mohammad Saidal Lavanw Mohmand sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $15.26, for a total transaction of $1,144,500.00. Following the sale, the chief financial officer directly owned 201,800 shares of the company’s stock, valued at approximately $3,079,468. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wes Cummins sold 400,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $15.26, for a total transaction of $6,104,000.00. Following the sale, the chief executive officer directly owned 2,659,379 shares in the company, valued at $40,582,123.54. This represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 506,250 shares of company stock valued at $7,713,675. 9.50% of the stock is currently owned by insiders.

Applied Digital Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.